What to avoid during recession

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What to avoid during recession?

• Recession in the economy hits everyone in terms
  of finances. Loans, and banks are hit, interest
  rates are impacted and property too becomes
  sluggish. The inflow and outflow of money is
  reduced considerably. This also leads to many
  issues with small and big businesses, influencing
  the Business Loan in Delhi and the entire
  financial sector. Let us see how these financial
  risks can be taken care of and what must be
  avoided during recession.
• Save your job Finances are the most important
  aspect of one's life. A good planning regarding
  job is a must. While one is working it is
  important to invest alternately so that when you
  do not have a job you are still sustainable. It
  is equally important to take your existing job
  seriously as during recession job security is
  what you need.
• Debt When the economy is up scaling any kind of
  debt is profitable when paid back on time. But
  during recession it is important that car loans,
  low interest home loans or even loan against
  property are avoided. As the income becomes
  inconsistent it is important that a judicious
  decision be taken in terms of debt.
• Investing cautiously Recession is not a great
  time to take risky bets. Making investments
  during normal economic conditions is fine
  however during recession every investment done
  has unpredictable results. This leads to low
  returns in the investments, hence, one must
  invest very cautiously during such a slow down.
• Mortgaging In cases when you are sure that a
  fixed income will be generated from your
  business, in such a case if you are need of
  money, you may mortgage your property and take
  loans. The low interest home loans, along with
  low monthly EMI can be managed. But this too
  should be done when you are sure of a certain
  amount of money that you can earn from business
  or job.
• Becoming a guarantor When you become a witness
  or a guarantor for loans taken by someone else,
  it is a rather risky scenario during an economic
  slowdown. When the borrower defaults a payment
  and does that more than, the guarantor is the
  one looked upon for completion of payments. This
  holds true for Business Loans in Delhi, Personal
  Loans, and almost all kind of loans that require
  a guarantor.